Ox Securities Broker for US clients

[dsamardzic]

Im a noob. Signed up for Galileo using Forex.com and was disappointed to find I could only trade currency pairs. After much search to find a broker that takes US clinets and supports gold/silver/crypto and stock trading for US customers, I found Ox securities. Others (including forex.com and oanda) offer only Forex. Most wouldnt even take me on as a customer (eg peppermint).

My question now that I found a broker is which version to sign up for: Standard or pro. In their defintiion the difference is

• Pro Account: Spreads start from 0.0 pips, and a commission of $7 per lot (round trip) is charged.
• Standard Account: There is no commission charge, but spreads start from 1.0 pips.

My guess is we want the tighter spreads as Gailelo makes a lot of trades per week, but Im a true novice and dont know. Any insight from any of you guys on which is the better way to go before I commit to one or the other?

 

[MadDawg]

Opening a demo account. We'll see how this goes. So far the only choice I've seen for a US account.

 

[scrappyjedi]

Im a noob. Signed up for Galileo using Forex.com and was disappointed to find I could only trade currency pairs. After much search to find a broker that takes US clinets and supports gold/silver/crypto and stock trading for US customers, I found Ox securities. Others (including forex.com and oanda) offer only Forex. Most wouldnt even take me on as a customer (eg peppermint).

My question now that I found a broker is which version to sign up for: Standard or pro. In their defintiion the difference is

• Pro Account: Spreads start from 0.0 pips, and a commission of $7 per lot (round trip) is charged.
• Standard Account: There is no commission charge, but spreads start from 1.0 pips.

My guess is we want the tighter spreads as Gailelo makes a lot of trades per week, but Im a true novice and dont know. Any insight from any of you guys on which is the better way to go before I commit to one or the other?

A lot of factors to consider. What is your account size going to be and how much volume do you plan on trading. For larger volume of trades, the Pro Account is often a go to; however, each trader has their own choice to make. You can set up Galileo FX to be aggressive and trade a ton on a given day/week or a more conservative approach. The choice is yours

 

[MadDawg]

The Ox people are quite nice and responsive to questions. My Live account has been established with a nominal amount of funds. My deposit was made with a Fed Wire Transfer which was the only way I could get it done with my bank. Next step is to add a Demo account to practice trading with. I will report my success or failure in getting that done.

 

[MadDawg]

Demo account is open. Quite easily too. Trading in demo begins tonight when the forex market opens.

 

[chy5398p]

In OX Securities, it does offer forex, stocks, cryptocurrencies, indices, metals (including gold and silver), and commodities one single account. If you want to trade forex, cryptocurrencies, indices, metals (including gold and silver), and commodities, you can use the trading platform MT4 or MT5. If you want to trade stock, you have to use the trading platform called IRESS, which Galileo does not support. Also, if you open a demo account from OX, you end up with a demo account that resembles a PRO account, where you pay US$7 for each two-way transaction (buy and then sell, or vice versa) in lots size of 1.0 (100,000 unit in US dollar), and Galileo FX AI program will only trade with investment options that have the suffix “PRO” (mainly EUR/USD, GBP/USD, USD/CAD, USD/CHF, XAU/USD (gold/US Dollar), and XAG/USD (silver/US dollar)), but not others, such as cryptocurrencies and indices.